The bottom line increased 15.5% from $7.17 in the prior-year quarter. It reported adjusted earnings per share of $8.28, beating the Zacks Consensus Estimate of $8 on higher-than-expected comps growth. O’Reilly released first-quarter 2023 results on Apr 26.
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Peer ReleasesĬarMax’s key peers include O’Reilly Automotive ( ORLY Quick Quote ORLY - Free Report), Advance Auto Parts ( AAP Quick Quote AAP - Free Report) and AutoZone ( AZO Quick Quote AZO - Free Report). You can see the complete list of today’s Zacks #1 Rank stocks here. Zacks Rank: CarMax currently carries a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter. This is because the Most Accurate Estimate of earnings is pegged 3 cents lower than the Zacks Consensus Estimate. This is not the case here.Įarnings ESP: CarMax has an Earnings ESP of -4.57%. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. Our proven model does not conclusively predict an earnings beat for CarMax this time around. The consensus mark for quarterly gross profit from the wholesale vehicle segment is pegged at $149 million, suggesting a decline from $192 million reported in the prior-year quarter. The Zacks Consensus Estimate for quarterly gross profit from the used-vehicle segment is pegged at $459 million, implying a decline from $564 million reported in the year-earlier quarter. Lower year-over-year revenues, commodity cost inflation and logistical challenges are likely to have weighed on gross profits. The Zacks Consensus Estimate for quarterly net sales of wholesale vehicles is pegged at $1,339 million, indicating a decrease from the prior-year period’s $2,117 million. The consensus estimate for wholesale vehicle ASP is pegged at $8,740, indicating a fall from the year-ago figure of $11,000.Ĭonsequently, the Zacks Consensus Estimate for CarMax’s net sales from used vehicles is $5,688 million, implying an 18.9% year-over-year decline. For the May quarter, the consensus estimates for used vehicle ASP is pegged at $26,750, indicating a drop from the year-ago figure of $28,840. The Zacks Consensus Estimate for used and wholesale units sold during the to-be-reported quarter is pegged at 206,644 and 150,859, respectively, implying a decline from the year-ago period’s level of 240,950 and 186,307 units.Īdditionally, falling average selling prices are likely to have clipped revenues further.
The estimated decline in total vehicles sold by CarMax in the first quarter of fiscal 2024 is likely to have played spoilsport. The Zacks Consensus Estimate for quarterly revenues suggests a year-over-year contraction of 21.77%. The bottom line projection indicates a year-over-year decline of 53.21%. The Zacks Consensus Estimate for CarMax’s fiscal first-quarter earnings per share has been revised up by a cent in the past seven days.
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